India takes another step towards being world's food basket

India is one step ahead to becoming the food basket of the world as the country is set to produce a record 117.5 million metric tons of wheat by June this year, the Ministry of Agriculture’s estimates have said.

The estimates are slightly higher than the central government’s March forecasts of 115.4 million tons. India, the world’s biggest wheat producer after China, produced 113.3 million tons of wheat in 2024, the farm ministry said in a statement issued late on Wednesday.

India’s rice production will also see a boost this year, with the ministry estimating it at 149 million metric tons, up from last year’s 137.8 million tons. The record production of the staple foodgrains will take India’s total food grains production to 354 million tons from last year’s 332.3 million tons.

A strong wheat harvest in India is rapidly replenishing stocks, meaning the country will be able to meet domestic demand without imports this year, contrary to market talk that it would need overseas supplies, and a potential drag on global prices.

India on its way to become a food basket

Union Finance Minister Nirmala Sitharaman said that the BJP-led central government is trying to make India the world’s food basket during the budget presentation of 2025 in February.

She announced the establishment of the National Institute of Food Technology, Entrepreneurship and Management in Bihar. “The institute will provide a strong fillip to food processing activities in the entire Eastern region,” Sitharaman said.

What’s our budget?

The government has significantly increased budget allocations, rising from Rs 11,915.22 crore in 2008-09 to Rs 1,22,528.77 crore in 2024-25.

Food grain production has surged from 204.6 million tonnes (2004-05) to an estimated 332.3 million tonnes (2023-24), with enhanced productivity and Minimum Support Price (MSP) revisions ensuring better farmer incomes.

A PIB release says, “India’s foodgrain production has seen a steady rise over the years, reflecting improvements in agricultural productivity and policy support. In 2004-05, total foodgrain production stood at 204.6 million tonnes. (4th advance estimates) This increased to 252 million tonnes in 2014-15 and further surged to an estimated 332.3 million tonnes in 2023-24.”

With inputs from agencies